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It hasn’t done Ryanair any harm😂.
Surprised at the drop, back in at 85p.
Dr Martens reviews on Trustpilot are not good. If you read and analyse reviews, mostly DTC delivery issues or quality problem. I understand that their DTC is growing but when you don't reply to your customer's reviews and resolve problems, it looks BAD
https://uk.trustpilot.com/review/www.drmartens.com
If DOCS is to have any real chance here, company now visibly needs new management/fresh blood at the helm as current strategy (Geography, Product, Pricing, Marketing, Competition Displacement......etc.) is clearly NOT working IMHO.
In the US recently,Dicks sporting goods, Nike and JD Sports all gave profits upgrades due to excellent trading in America..Doc is poorly managed is the real reason the company is not doing well..Every time results are poor they increase the price of the shoes,this removing more customers from the equation
For a long lasting, effectively hand made, boot/shoe they aren't expensive. Where they had any quality issues was with the outsourcing of manufacture abroad, mainly China, and not controlling quality. You can specifically order UK manufactured boots if you want to. I do agree that the management and strategy has not been good for a while and today's RNS reinforces that. I made some money on FAB 2 days ago and lost it today here-but only if I sell. I'll hang onto my shares for a recovery, but hopefully that will not be as long as their produce can last.
Ok Run1 my perception is that the product is too expensive. Just go on Amazon and search Doc Martins and see what comes up - Doc Martins plus other cheaper stuff that to my mind looks as good if not better and cheaper. I’m not doubting quality. It has a premium product price and luxury goods seem to be struggling at the moment
I got out and made just £10 of profit, hahahaha
Repression ... I am a shoemaker by past profession and I can tell you that these shoes are tremendous value for money. Of course, ugly is a matter of taste but quality can be measured,
They have just relocated from suppliers in China to south east asia. More instability in their supply chain is the last thing they need.
Wouldn't hold out for Mike Ashley he won't be rushing to buy unless the liquidators are in control
Cant see a Takeover, unless the price is too good to ignore ...otherwise the shareholders wont sell out to a silly bid ..IMO
Dont see a bounce coming here ...the projected earnings per share, for the year dont suggest it is oversold IMO.....but speculators might take a chance on it
The US consumer seems to be tightening their belts and lookig for bargains ....photos of lines of people just waiting to get into a NIKE store in the hope of price reductions, shows how desperate people are to get something ...cheaper
I can see them having to reduce prices.....margin pressure
Market will knock this lower if this guidance has to be corrected again ..IMO
Same, could drop more yet by tomorrow afternoon.
The product is too expensive especially for what is the ugliest brand in fashion.
There are two types of management in this situation. The ones that can get a company out of it's hole, who have a serious plan that looks solid, and people who are just holding a job, either hoping things get better or waiting to get pensioned off.
I've learned from this and CROX that I should watch/listen to more of these earnings calls. You get a sense of the energy of senior management. Are they serious and confident about their plan? Can they present something convincing about the future? I got a lot of positive words from DOCS but the tone/presentation suggested they didn't believe in it and are just hoping it will work.
This is another Disney for me now. Management needs clearing out. I won't invest before then.
I'm sitting on my hands today.
Profit warnings sometimes take a few days to settle
Always buy the dip. In for a small punt @84.122. Good luck all.
Many UK companies struggle to succeed in the USA.
Also many companies with great products can go down rabbit holes as they try to grow and management execution gets more complicated.
The final dividend must be under pressure else this is a screaming buy.
GLA
Fantastic product, robust heritage, strong brand recognition, clear channels to global markets ... and yet spectacularly unsuccessful.
Smacks of mismanagement to me. I'm not sure the board is smart enough. Blaming the weather, really? That's a Joules level comment.
Need serious players from the likes of adidas who know how to make it come together.
And soon too.
I called this price guys! And people told me I was nuts after the last profit warning.
Disagree. A 12 month supply of stock gives them plenty of time to test samples from alternative cheaper suppliers.
Traded this share successfully until my last buy at 131p which is now a medium/long term hold. Not concerned as after today's fall, which I think is overdone, I see a much higher expectation of corporate activity - stakebuilding or a bid. Shorters will have to buy back when they feel they have made enough from a fall and/or when they think the bottom is reached. A sudden bounce can catch them out and exacerbate any rise in SP. Notwithstanding short term volatility I still see this share recovering longer term. An earlier post mentioned Mike Ashley might see this as an opportunity. With Doc Marten's global appeal I can see the possible attraction. I doubled my holding this morning by buying more.
With almost 12 months invetory, they won't be re-ordering from their suppliers for quite a while. This will decimate their supplier base who will re-focus on other customers, leaving DM with a real problem. To re-engage with their suppliers they will have to incentivise them with higher cost prices.
Remember their Cost of Goods inflation is already 6% and eating into DM margins, so that will only increase, and I am guessing significantly. They may well try to firesale to reduce inventory but that also impacts margins and damages the brand.
Management have their head in the sand believing too much in "iconic brand" and not enough in business fundamentals.
So, all in all, not a good story from DM and a takeover target at 70p.
Just bought a few at 86p for a 2-3 year hold. Some Chinese investors will snap this up for 120p....Gla
Or for good RNS either at the moment